Shares of Ford Motor Co. F, -0.57% eased about 0.1% in morning trading Tuesday, while the S&P 500 SPX, -0.50% dropped 0.5%, after the auto maker announced leadership changes as it looks to accelerate its “Ford+” growth plan, and as it enters an “intense period of execution” of its $50 billion investment in electric vehicles (EVs). The company said Chief Financial Officer John Lawler will oversee on an interim basis a makeover of global supply chain operations until a permanent chief global supply chain officer is named. In addition, Doug Field was named chief advanced product development and technology officer; Lisa Drake, vice president of EV industrialization, will also lead manufacturing engineering as Ford looks to boost EV production to 2 million a year by the end of 2026; and Chuck Gray, VP of EV technology, was named VP of vehicle hardware engineering. And Roz Ho will join Ford from HP Inc. HPQ, +0.38% and Jae Park will join from Alphabet Inc.’s GOOGL, +1.14% Google to work on developing fully connected, software-defined vehicles and advanced driver assistance systems.
